Jefferies Group Analysts Cut Earnings Estimates for Carrizo Oil & Gas, Inc. (CRZO)
Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) – Investment analysts at Jefferies Group cut their Q3 2017 earnings per share estimates for Carrizo Oil & Gas in a research note issued on Tuesday. Jefferies Group analyst M. Hsu now anticipates that the oil and gas producer will earn $0.27 per share for the quarter, down from their previous estimate of $0.38. Jefferies Group has a “Buy” rating and a $25.00 price target on the stock. Jefferies Group also issued estimates for Carrizo Oil & Gas’ Q4 2017 earnings at $0.40 EPS and Q1 2018 earnings at $0.35 EPS.
Carrizo Oil & Gas (NASDAQ:CRZO) last issued its earnings results on Tuesday, August 8th. The oil and gas producer reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.05. Carrizo Oil & Gas had a positive return on equity of 1,494.45% and a negative net margin of 0.98%. The firm had revenue of $166.50 million for the quarter, compared to analyst estimates of $163.22 million. During the same quarter in the prior year, the firm earned $0.29 earnings per share. Carrizo Oil & Gas’s revenue for the quarter was up 55.2% on a year-over-year basis. COPYRIGHT VIOLATION NOTICE: This piece of content was published by Watch List News and is the sole property of of Watch List News. If you are accessing this piece of content on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this piece of content can be accessed at https://www.watchlistnews.com/jefferies-group-analysts-cut-earnings-estimates-for-carrizo-oil-gas-inc-crzo/1532726.html.
A number of other brokerages have also issued reports on CRZO. Williams Capital set a $35.00 price target on Carrizo Oil & Gas and gave the company a “buy” rating in a research note on Tuesday, August 8th. Robert W. Baird decreased their price target on Carrizo Oil & Gas from $50.00 to $36.00 and set an “outperform” rating for the company in a research note on Wednesday, May 24th. Seaport Global Securities lowered Carrizo Oil & Gas from a “buy” rating to a “sell” rating in a research note on Wednesday, June 21st. BidaskClub lowered Carrizo Oil & Gas from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Finally, Zacks Investment Research raised Carrizo Oil & Gas from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $39.35.
Shares of Carrizo Oil & Gas (NASDAQ:CRZO) opened at 12.77 on Wednesday. The firm has a 50-day moving average price of $14.83 and a 200 day moving average price of $22.92. The stock’s market cap is $1.04 billion. Carrizo Oil & Gas has a 52-week low of $12.12 and a 52-week high of $43.96.
Large investors have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC increased its stake in Carrizo Oil & Gas by 89.5% in the second quarter. Lord Abbett & CO. LLC now owns 2,659,107 shares of the oil and gas producer’s stock worth $46,322,000 after buying an additional 1,256,160 shares during the last quarter. Phocas Financial Corp. increased its stake in Carrizo Oil & Gas by 4.7% in the second quarter. Phocas Financial Corp. now owns 212,352 shares of the oil and gas producer’s stock worth $3,699,000 after buying an additional 9,481 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its stake in Carrizo Oil & Gas by 260.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 102,641 shares of the oil and gas producer’s stock worth $1,787,000 after buying an additional 74,193 shares during the last quarter. Verition Fund Management LLC bought a new stake in Carrizo Oil & Gas during the second quarter worth $467,000. Finally, Piedmont Investment Advisors LLC bought a new stake in Carrizo Oil & Gas during the second quarter worth $288,000. 99.96% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Steven A. Webster bought 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were acquired at an average cost of $12.67 per share, with a total value of $316,750.00. Following the completion of the transaction, the director now directly owns 2,826,310 shares in the company, valued at $35,809,347.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven A. Webster bought 75,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were purchased at an average cost of $13.89 per share, for a total transaction of $1,041,750.00. Following the completion of the transaction, the director now owns 2,724,410 shares of the company’s stock, valued at $37,842,054.90. The disclosure for this purchase can be found here. Insiders bought 356,600 shares of company stock worth $4,724,806 over the last quarter. 6.00% of the stock is currently owned by corporate insiders.
Carrizo Oil & Gas Company Profile
Carrizo Oil & Gas, Inc is an energy company. The Company is engaged in the exploration, development and production of oil and gas from resource plays located in the United States. Its operations are focused in proven, producing oil and gas plays in the Eagle Ford Shale in South Texas, the Delaware Basin in West Texas, the Utica Shale in Ohio, the Niobrara Formation in Colorado, and the Marcellus Shale in Pennsylvania.
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